Lukoil's deal to sell foreign assets to Carlyle lapses without US approval
In short
Lukoil's agreement to sell its foreign assets to the US investment company Carlyle lapsed in July 2026 after the deal did not receive approval from US authorities, Russian outlets reported. RBC said the approval was needed from the US Treasury's Office of Foreign Assets Control (OFAC). Interfax reported that LUKOIL International is now holding "intensive negotiations" with other interested parties.
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Lukoil's agreement to sell its foreign assets to the US investment company Carlyle has lost force, Interfax, RBC and TASS reported. According to RBC, the agreement lapsed at the end of July 2026 because the deal did not receive approval from the US Treasury's Office of Foreign Assets Control (OFAC); TASS reported that it did not receive approval from US authorities. Vedomosti reported that the agreement to sell Lukoil's international business to a US fund had lost force. [ 1 , 2 , 3 , 4 ]
Interfax, which reported that the agreement expired in July, said LUKOIL International is now holding "intensive negotiations" with other interested parties. [ 1 ]
Why it matters
The agreement for Carlyle to buy Lukoil's foreign business is no longer in force, and RBC and TASS link this to the lack of approval from US authorities. Interfax reports that LUKOIL International is now negotiating with other interested parties.
Key facts
- Lukoil's agreement to sell its foreign assets to Carlyle has lost force. [ 1 , 3 , 4 ]
- The agreement expired in July. [ 1 , 3 ]
- RBC reported the agreement lapsed at the end of July 2026. [ 3 ]
- RBC reported the deal did not receive approval from the US Treasury's Office of Foreign Assets Control (OFAC). [ 3 ]
- TASS reported the agreement did not receive approval from US authorities. [ 4 ]
- RBC described Carlyle as a US investment company. [ 3 ]
- Interfax reported that LUKOIL International is now holding "intensive negotiations" with other interested parties. [ 1 ]
Confirmed by several sources
Still unclear
- Which other parties LUKOIL International is negotiating with. Only Interfax reports the "intensive negotiations" and it does not name the other interested parties.
- Whether and when a new agreement for the foreign assets might be reached. The documents do not say.
What local media are saying
Timeline, local time
- Interfax reports that the agreement to sell Lukoil's foreign assets to Carlyle expired in July. [ 1 ]
- Vedomosti reports that the agreement to sell Lukoil's international business to a US fund has lost force. [ 2 ]
- RBC reports the agreement lapsed at the end of July 2026 without OFAC approval. [ 3 ]
- TASS reports the agreement lost force without approval from US authorities. [ 4 ]